Relative stability in the restive Niger Delta region contributed to the upturn in the country’s economic fortunes.

According to the NBS, the oil sector was estimated to have averaged production levels of 1.84 million barrels per day, which is 0.15 million barrels higher than the daily average production recorded in the first quarter of June 2017.

The non-oil sector did chip in with its own growth as well. The Agriculture, Finance and Insurance, Electricity, Gas, Steam and Air-conditioning supply and other services sectors grew by 0.45% in real terms.

This showed a 0.83% increase when juxtaposed with the rate recorded in second quarter 2016 and -0.28% lower than the rate recorded in first quarter of 2017.

Manufacturing also posted relatively decent figures.

For instance, Food, Beverage and Manufacturing grew by 2.67% in Q2 2017 from 4.07% in Q1 2017 and -2.65 in Q4 2016.

However, the Information and Communication sector contracted by -1.15% in Q2 2017 from 2.73% in Q1 2017 and 1.38% in Q4 2016.

The Air Transport and Storage sector grew by 0.15% in Q2 2017 from 1.53% in Q1 2017 and -13.25% in Q4 2016.

The trade sector however contracted by -1.62% in Q2 2017 from -3.08% in Q1 2017 and -1.44% in Q4 2016.

SPORTS

LIKE US ON FACEBOOK

Spyloop is an all rounder in Entertainment, News, Music, Video, Comedy & Celebrity Gossip. We work hard to serve you first and best of all and to satisfy your hunger of Trending Stories.

Here you will be updated with all round Local and Foreign entertainment gist, latest tech related tech/hacker news, hacking tutorials related to various security tips from latest vulnerabilities and lots more.